All You Need to Know About PNB Housing Finance Fixed Deposit

Introduction

Fixed Deposits (FDs) are one of the most preferred investment options due to their guaranteed returns and low risk. Among various FD providers, PNB Housing Finance Fixed Deposit stands out due to its attractive interest rates, flexible tenures, and high credit ratings. In this blog, we will explore all essential details about PNB Housing Finance FD, including features, benefits, eligibility, and application process.

About PNB Housing Finance Fixed Deposit

PNB Housing Finance Limited (PNBHFL) is a leading housing finance company in India, offering secure and high-yielding fixed deposit schemes. These FDs are rated FAAA by CRISIL and AA by CARE, ensuring high safety and reliability for investors.

Key Features of PNB Housing Finance FD

• High Safety Assurance: Rated FAAA by CRISIL, indicating low risk.

• Competitive Interest Rates: Attractive rates for both general and senior citizens.

• Flexible Tenure: Ranges from 12 months to 10 years.

• Multiple Interest Payout Options: Monthly, quarterly, or cumulative.

• Loan Facility: Get loans against FD up to 75% of the deposit amount.

• Easy Online and Offline Application: Invest with a seamless process.

• Premature Withdrawal: Allowed after 3 months with applicable penalties.

Interest Rates on PNB Housing Finance FD (2024)TenureGeneral PublicSenior Citizens12 - 23 months7.40%7.65%24 - 35 months7.50%7.75%36 - 47 months7.60%7.85%48 - 59 months7.70%7.95%60 - 120 months7.75%8.00%Benefits of Investing in PNB Housing Finance FD

1. Higher Interest Rates: Better returns compared to many bank FDs.

2. Reliable and Secure: Backed by strong credit ratings.

3. Flexible Investment Options: Choose from various tenures.

4. Premature Withdrawal Facility: Access funds in emergencies.

5. Loan Against FD: Liquidity without breaking the FD.

6. Tax Deduction at Source (TDS): As per income tax rules, with Form 15G/15H exemption for eligible investors.

Eligibility Criteria

• Individuals (Resident & Non-Resident Indians)

• Hindu Undivided Families (HUFs)

• Trusts, Partnerships & Corporate Entities

Documents Required

• KYC Documents (PAN, Aadhaar, Passport, or Voter ID)

• Address Proof

• Passport-size Photograph

• Bank Account Details for Interest Payouts

How to Apply for PNB Housing Finance FD?Online Method:

1. Visit the official PNB Housing Finance website.

2. Choose the Fixed Deposit option.

3. Fill in personal and investment details.

4. Upload KYC documents.

5. Make an online payment and receive confirmation.

Offline Method:

1. Visit a PNB Housing Finance branch.

2. Fill out the FD application form.

3. Attach required KYC documents.

4. Pay via cheque, DD, or net banking.

5. Receive FD receipt as proof of investment.

Tax Implications

• Interest earned on PNB Housing Finance FD is taxable under ‘Income from Other Sources’.

• TDS applies if interest exceeds 40,000 (50,000 for senior citizens) per annum.

• Submit Form 15G/15H to avoid TDS deduction if eligible.

Premature Withdrawal Rules

• Allowed after 3 months from the deposit date.

• Penalty: Lower interest rate applied for early withdrawal.

• No interest is paid if withdrawn before 3 months.

Loan Against PNB Housing Finance FD

• Up to 75% of FD amount can be availed as a loan.

• Interest on the loan is 1%-2% higher than the FD rate.

• Helps retain investment benefits while ensuring liquidity.

Who Should Invest in PNB Housing Finance FD?

• Risk-averse investors looking for stable returns. ✅ Senior citizens seeking higher interest rates. ✅ Investors needing liquidity via loan against FD. ✅ Long-term savers planning for future financial needs.

Final Thoughts

PNB Housing Finance Fixed Deposit is an excellent investment choice for those looking for secure and high-yielding returns. With attractive interest rates, high credit ratings, and flexible options, it is a reliable FD scheme for all types of investors. However, always consider your financial goals and risk appetite before investing.

RR Finance

Rate this Article